China 33 Media Soars 59% on Hong Kong Stablecoin License Plan to Enter Cryptocurrency Market

Market Watcher07-16

CHINA 33MEDIA (08087) surged 59.24% in morning trading, reaching HK$5.43 with a turnover of HK$5.4771 million.

On July 15, the company announced plans to apply for a stablecoin license in Hong Kong. Funding will come from net proceeds of a general mandate share placement and existing cash reserves.

Hong Kong's Stablecoin Ordinance (Chapter 656) takes effect August 1, 2025, establishing a licensing framework for regulated stablecoin activities. The board views this as a strategic opportunity to expand into cryptocurrency, enhancing business diversification.

With extensive experience serving retail clients needing cross-border payments, the group believes stablecoins can significantly improve transaction efficiency while reducing costs. Preparatory work for the license application is underway. Future initiatives include exploring payment technology services in Hong Kong, particularly stablecoin solutions, to optimize consumer experiences and accelerate adoption in retail payment scenarios.

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